Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.3.1.900
Condensed Consolidated Balance Sheets - USD ($)
Jan. 31, 2016
Apr. 30, 2015
Current assets:    
Cash and cash equivalents $ 700,993 $ 327,298
Accounts receivable 3,375,849 2,170,261
Inventories 1,556,703 2,088,737
Other current assets 57,104 69,076
Total current assets 5,690,649 4,655,372
Property and equipment 70,997 120,997
Other assets 29,479 49,210
Capitalized software development costs 339,324 365,424
Goodwill 1,083,555 1,083,555
Total assets 7,214,004 6,274,558
Current liabilities:    
Note payable-revolving credit line 2,693,598 2,109,449
Accounts payable 684,128 879,573
Accrued liabilities 145,542 282,284
Convertible notes payable 0 600,000
Convertible notes payable related parties 80,000 107,500
Total current liabilities 3,603,268 3,978,806
Other liabilities 125,414 179,163
Total liabilities 3,728,682 4,157,969
Stockholders' equity:    
Common Stock 4,775 2,776
Additional paid-in capital 24,436,395 24,635,569
Shares to be issued 0 111,745
Accumulated deficit (25,037,455) (24,490,404)
Total stockholders' equity 3,485,322 2,116,589
Total liabilities and stockholders' equity 7,214,004 6,274,558
Series A Preferred Stock    
Stockholders' equity:    
Preferred stock 0 1,856,903
Series B Preferred Stock    
Stockholders' equity:    
Preferred stock $ 4,081,607 $ 0